This post defines a PWN DAO proposal lifecycle called PWN Request for Comments (PRC).
1. Forum
Every proposal has to be written down and discussed first. It should contain:
- title in format “[PRC #N] - Proposal name”
- TL;DR (for long proposals)
- governance mode
- “Steward” for Optimistic voting
- “Community” for Token voting
- full proposal description with reasoning
- on-chain actions
The author must notify the community by sharing the proposal in a dedicated Discord channel (channel name: TBD) for everyone to notice and discuss.
Example
Title: [PRC #1] - PWN DAO first proposal
TL;DR: All you need to know is that it will be ground breaking!
Mode: Community
Proposal: I’m describing how will this proposal make PWN DAO the superior lending protocol.
On-chain actions: List of on-chain actions.
2. Voting
After sufficient discussion, either a general consensus is reached, or no new arguments are presented for ~3 days, and an on-chain proposal can be created. If the proposal does not include any on-chain execution, Snapshot can be used for voting.
Community
Community voting is a standard token voting with vePWN .
| Param | Value | Comment |
|---|---|---|
| Proposer voting power | 1 | Intentionally small. Can be increased in case of a spam. |
| Voting options | For, Against, Abstain | |
| Support threshold | 60% | for votes > against votes (abstain votes are not counted in) |
| Quorum | 20% | At least 20% of current total voting power must vote. |
| Min voting duration | 3 days |
Stewards
Steward voting is implemented as Optimistic voting, where every proposal passes by default unless it is vetoed by the community with veto power equal to the vePWN balance.
| Param | Value | Comment |
|---|---|---|
| Veto threshold | 10% | At leat 10% of current total voting power must veto the proposal for it to not pass. |
| Voting options | Veto | |
| Min voting duration | 3 days |
3. Execution
A proposal can be executed if it passes governance voting (on-chain or Snapshot). For Community proposals, this means that the proposal reached the quorum and support threshold, and for Stewards proposals, it didn’t reach the veto threshold.
On-chain execution is permissionless, meaning anyone can execute it, but it will most likely be somebody from the PWN core team.